Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
The National Federation of Roofing Contractors (NFRC) has welcomed the launch of the Government’s new Small Business Plan, a step the group claims shows ‘real intent to support construction SMEs’.
The Small Business Plan outlines the governments intention to tackle late payments, including the practice of cash retentions, which NFRC has long campaigned to abolish.
80% of firms responding to NFRC’s latest State of the Industry survey said retentions affect their business, and the group estimates over £300 million is currently locked up in retentions across roofing and cladding alone.
NFRC believes, while ensuring quality is essential, retentions are no longer fit for purpose, and alternatives that do not contribute to unnecessary insolvencies already exist. In roofing, long-term manufacturer and workmanship-backed guarantees, robust accreditation, and skilled training schemes offer stronger, more proactive safeguards.
“This is a critical opportunity to end the unfair practice of retention once and for all,” said James Talman, NFRC Group CEO. “Our Members consistently report this as one of their greatest business challenges, and it’s encouraging to see the Government finally taking action.”
